DJBoddington
01-08-2009, 10:39 PM
At last they have made an Agreement!! :thumbup::thumbup1:
The future of Formula 1 has been secured after the sport's governing body and 12 teams put pen to paper on a new Concorde Agreement.
The agreement, which runs until the end of 2012, brings to a close months of wrangling between the FIA and the Formula 1 Teams' Association (Fota).
The FIA said the signing heralds "a renewed period of stability" for F1.
It added that the document features a "slightly revised set of stable sporting and technical regulations."
The lack of a new Concorde deal - the document that sets out how F1 is run and its revenues distributed - had been a key sticking point during disagreements between the FIA and Fota earlier this season.
Read More at the F1 BBC Site (http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8179661.stm) :)
The future of Formula 1 has been secured after the sport's governing body and 12 teams put pen to paper on a new Concorde Agreement.
The agreement, which runs until the end of 2012, brings to a close months of wrangling between the FIA and the Formula 1 Teams' Association (Fota).
The FIA said the signing heralds "a renewed period of stability" for F1.
It added that the document features a "slightly revised set of stable sporting and technical regulations."
The lack of a new Concorde deal - the document that sets out how F1 is run and its revenues distributed - had been a key sticking point during disagreements between the FIA and Fota earlier this season.
Read More at the F1 BBC Site (http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8179661.stm) :)